Hyundai Motor announces raising car prices following other auto manufacturers

The company announced the price increase owing to rising input cost, increased commodity prices and higher operational expenses, amongst "other reasons".

The quantum of price increase will vary basis the variants and models, the carmaker said in a statement.

Tarun Garg, Whole-time Director and Chief Operating Officer, Hyundai Motor India Ltd, said, "At Hyundai Motor India Limited, we strive to absorb rising costs to the extent possible, ensuring minimal impact on our customers."

"However, with the sustained increase in operational expenses, it has now become imperative to pass on a part of this cost escalation through a minor price adjustment. The price increase will be effective in April 2025," Garg added.

"We remain committed to making consistent internal efforts to minimise any future impact on our valued customers."

Earlier, Tata Motors, Maruti Suzuki, and Kia India decided to raise car prices across its entire product range.

Kia India on Tuesday announced a 3 per cent price hike. The premium carmaker had said in a statement that the price hike, effective from April 1, 2025, is primarily due to rising commodity prices and escalating supply chain-related costs.

On Monday, Maruti Suzuki had announced a price hike of up to 4 per cent on its vehicles, effective April 1, 2025.

According to Maruti Suzuki, the company cited rising input costs and operational expenses as the primary reasons for this decision. The price increase will vary across different models.

Hours later, on Monday, Tata Motors announced a price hike. The carmaker proposes to increase prices up to 2 per cent across its commercial vehicle lineup.Tata Motors has also decided to raise prices across its passenger vehicle range, including electric vehicles.

According to Tata Motors, the price increase was necessary to partially offset the impact of rising input costs, with the extent of the hike varying based on the specific model and variant. (ANI)